License of Aloysius owned Mendis brewery cancelled
The licence of arrack distillery W.M. Mendis & Co. Ltd has been cancelled by the Excise Department for non-payment of taxes, the Excise Department confirmed.
The production in the distillery has been suspended since January this year, Commissioner of Excise Helan Meegasmulla told the Daily FT.
The company has evaded tax payments to the tune of Rs. 580 million for the month of December 2017. The company had an outstanding of Rs. 720 million, however, part of the amount has been settled before the licence was revoked, sources told Daily FT.
Owned by Arjun Aloysius, now in custody in connection to the Central Bank bond scam, W.M. Mendis & Co. has been stopped since last month and has let go of all temporary workers, it was learnt.
Perpetual Capital Holdings Ltd bought over the distillery company in 2012, with indications from its then-Chairman Arjun Aloysius that it was the first of a series of investments. Established in the 1960s, W. M. Mendis & Co. is one of the oldest local liquor brands in the country.
The Excise Department is also awaiting the court ruling to be given on 16 February on another case filed against the company for non-payment of tax, before Perpetual Capital Holdings took over the company, sources said.
(Daily FT)
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No worries, my dear friends.
This licence will soon be given to leading family enterprise in the Polonnaruwa District.
Few days for the PC elections. Couple of culprits arrested. After paying the Tax (hopefully after the elections) it will be ‘Business as Usual’. Till that time, the Arrack in the Vats will gain value because it will be ‘Old Arrack’, added value I would say. No harm done.
The public has right to know the details of this operation particularly in relation to revenue expenditure revenue expenditure incurred for the purchase of biomass total alcohol production and sales. this need to be translated to get a reliable estimate on how this operation is taxed. For his comapnies tax filings are shady.
Further if consumers are taxed on purchase then the revenue ought to paid accordingly.
Hi Zama and Amarakoon,
Don’t break your heads; someone in power is after the licence for Mendis Special Breweries.
Wonder who it is?
Is it the Liily White leader or his side-kick, Killy Maharajah?
the political system in sl is subservient to the mafia that operates in sri lanka. Mahendran was appointed by ranil to serve rajaratnam to help him launder million s of dolaars stashed away in the US in ghost accounts held by the likes of mahendran and alloysius. Mahendran once he is released after the 12 sentence will not be able to lead the lifestyle he led before he was carted away.
Singapore is very tight in dealing with its immigration. What colateral did mahendran provide the Singapore to get his citizen as is claimed. As it is it will be tough call to locate mahendran and util then extraiction is all talk. What does Surisen intend doing if he cannot be located. Until then the judciary cannot proceed with the the prosecuyion.
However charges can be brought againsy allysious not so much for tax evasion but s to how he ran ir as an illegal brwery. Other counts can be latched into the proces like making false declarations to the Inland Revenue wnd the tax department is nothing more than a hive of rougues.